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Technology Stocks : Concurrent Computer (CCUR) -- Ignore unavailable to you. Want to Upgrade?

To: ENOTS who wrote (3533)	4/30/1998 9:51:00 AM
From: Pikeaholic	Read Replies (1) \| Respond to of 21143

Company Press Release Concurrent Computer Corporation Reports Increased Earnings for First Three Quarters of Fiscal 1998 FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--April 30, 1998--Concurrent Computer Corporation today reported that year-to-date profit for the first 9 months of fiscal 1998 is $3.7 million or $0.08 per share, compared with a profit of $0.9 million, or $0.02 per share for the first nine months of fiscal 1997. Revenue for the first nine months of fiscal 1998 was $62.0 million, compared with $83.0 million for the first nine months of fiscal 1997. Profit for the quarter ended March 31, 1998 is $1.0 million or $0.02 per share, compared with a profit of $2.3 million or $0.05 per share for the quarter ended March 31, 1997. Revenue for the quarter was $20.4 million, compared with $26.7 million for the same quarter a year ago. ''Our profit continues to outpace last year,'' said E. Courtney Siegel, Concurrent's Chairman, President and Chief Executive Officer. ''We expect our fourth quarter to be stronger -- both in real-time sales and the beginning of our video-on-demand revenue stream.'' ''Significant progress continues to be made in the video-on-demand area. Our hospitality business is on plan with revenue starting in our fourth quarter and planned volume shipments in fiscal year 1999. The residential area is moving ahead of plan. We will be demonstrating our products at the NCTA Cable'98 show in Atlanta, May 4-6, 1998. The residential business area should provide significant revenue in the last half of our fiscal year 1999, which is the January-June 1999 timeframe. In addition, we introduced our corporate intranet product this quarter and are busy signing up distributors and value added resellers.'' ''As for our real-time business, the revenue decline is as expected. We continue to manage this decline profitably with over 6% IAT while continuing to emphasize our real-time product transition and new video-on-demand products. The transition of our real-time product to a more software-oriented solution is going very well with significant wins in our process control business area. Recent wins totaling over $6 million with companies such as General Motors, BF Goodrich, Volvo and Pratt & Whitney provide confidence that our customers approve of this transition,'' Mr. Siegel concluded.